*CONVERSION OF A SHARE INTO R SHARE: STO

HEX HELSINKI     CASH MARKET           RELEASE 277/2004
                 SHARES                15 July 2004

CONVERSION OF A SHARE INTO R SHARE: STORA ENSO OYJ

A total of 9 805 converted A shares of Stora Enso Oyj
into R shares will be traded together with the R shares
of Stora Enso Oyj as of 16 July 2004.

Identifiers of Stora Enso Oyj's A and R share:

Trading code:                        STEAV
ISIN code:                           FI0009005953
Number of shares:                    180 060 771


Trading code:                        STERV
ISIN code:                           FI0009005961
Number of shares:                    657 182 628


HELSINKI EXCHANGES
Janne Seppänen

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